If you missed out on the tax credits that expired in 2011 for high-efficiency cooling and heating systems, you may be able to take advantage of geothermal heat pump federal tax credits that are in place until the end of 2016. This kind of a heating and cooling system is one of the most energy-efficient ways to condition your home, along with the most durable.
A geothermal heat pump taps into the stable temperatures a few feet underground to gather or remove heat. They provide several more times the cooling and heating power than the energy that goes into them. This gives you energy savings throughout the year. Design improvements for installation have improved, making it possible for people with small yards to take advantage of these systems, along with the generous federal tax credit of 30 percent for the cost of the equipment purchase and the installation. The federal government puts no cap on the cost of either. The only stipulation is that the equipment has to meet certain energy-efficiency standards.
Unlike tax credits for other kinds of energy-efficient heating and cooling systems, this tax credit even applies to vacation or second homes, new or existing. The reason for this generous tax credit is that geothermal heat pumps are the closest type of HVAC equipment available for creating zero emissions. They simply take the thermal heat the sun creates and redistribute it, either into your home or back into the ground.
A geothermal system offers up to 600 percent efficiency, which means that it creates six watts of heat from one watt of electricity. The reverse is true in the summer, when it extracts heat from your home. Besides lowering your heating and cooling costs, a geothermal system has a long life expectancy. The underground loops may last as many as 50 years, while the above-ground parts may last for 25 years with routine maintenance.
If you’d like to learn more about geothermal heat pumps and the available federal tax credits, contact Energy 1 Heating & Air Conditioning. A family-owned HVAC business, we’ve provided quality HVAC services for Lorain, Erie and Cuyahoga counties for more than 34 years.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information about geothermal heat pumps and other HVAC topics, download our free Home Comfort Resource guide.
Energy 1 Heating services the Lorain, OH area. Visit our website to see our special offers and get started today!
Energy 1 Heating & Air Conditioning
1 (440) 246-5440
Serving the Lorain, OH Area